Cadence Design Systems, Inc. $CDNS Stake Reduced by NZS Capital LLC

NZS Capital LLC reduced its position in shares of Cadence Design Systems, Inc. (NASDAQ:CDNS) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 512,744 shares of the software maker’s stock after selling 16,095 shares during the quarter. Cadence Design Systems accounts for about 5.5% of NZS Capital LLC’s investment portfolio, making the stock its 2nd biggest holding. NZS Capital LLC’s holdings in Cadence Design Systems were worth $180,106,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Cadence Design Systems during the second quarter valued at approximately $1,190,618,000. Massachusetts Financial Services Co. MA boosted its stake in Cadence Design Systems by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,314,407 shares of the software maker’s stock valued at $1,866,739,000 after purchasing an additional 731,788 shares during the last quarter. Voya Investment Management LLC boosted its stake in Cadence Design Systems by 914.2% during the 3rd quarter. Voya Investment Management LLC now owns 691,071 shares of the software maker’s stock valued at $242,746,000 after purchasing an additional 622,934 shares during the last quarter. Scge Management L.P. bought a new stake in shares of Cadence Design Systems in the 2nd quarter worth $187,663,000. Finally, Close Asset Management Ltd raised its stake in shares of Cadence Design Systems by 577.5% in the third quarter. Close Asset Management Ltd now owns 566,679 shares of the software maker’s stock worth $199,088,000 after purchasing an additional 483,039 shares during the last quarter. Institutional investors own 84.85% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CDNS. Needham & Company LLC reiterated a “buy” rating and issued a $390.00 price objective on shares of Cadence Design Systems in a report on Wednesday, February 18th. Wells Fargo & Company dropped their target price on shares of Cadence Design Systems from $410.00 to $375.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Rosenblatt Securities reiterated a “buy” rating and set a $360.00 target price on shares of Cadence Design Systems in a research note on Thursday, February 26th. Citigroup started coverage on Cadence Design Systems in a report on Monday, November 24th. They set a “buy” rating and a $385.00 price target on the stock. Finally, Oppenheimer raised Cadence Design Systems from an “underperform” rating to a “market perform” rating and set a $275.00 price objective for the company in a report on Monday, December 1st. Fifteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $376.50.

Cadence Design Systems Stock Down 0.9%

CDNS opened at $300.63 on Wednesday. The firm’s 50 day simple moving average is $305.10 and its two-hundred day simple moving average is $324.88. The company has a market capitalization of $81.97 billion, a PE ratio of 74.05, a PEG ratio of 3.62 and a beta of 1.00. Cadence Design Systems, Inc. has a 1-year low of $221.56 and a 1-year high of $376.45. The company has a current ratio of 2.86, a quick ratio of 2.67 and a debt-to-equity ratio of 0.45.

Cadence Design Systems (NASDAQ:CDNS) last posted its quarterly earnings data on Tuesday, February 17th. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.91 by $0.08. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Cadence Design Systems had a return on equity of 29.34% and a net margin of 20.93%.Cadence Design Systems’s revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.88 EPS. Cadence Design Systems has set its Q1 2026 guidance at 1.890-1.950 EPS and its FY 2026 guidance at 8.050-8.150 EPS. As a group, equities analysts forecast that Cadence Design Systems, Inc. will post 5.41 EPS for the current year.

Insider Transactions at Cadence Design Systems

In other Cadence Design Systems news, Director Ita M. Brennan sold 180 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $337.48, for a total transaction of $60,746.40. Following the sale, the director owned 7,650 shares in the company, valued at approximately $2,581,722. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Paul Cunningham sold 1,000 shares of Cadence Design Systems stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $295.09, for a total transaction of $295,090.00. Following the transaction, the vice president directly owned 95,137 shares in the company, valued at $28,073,977.33. This represents a 1.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 55,475 shares of company stock valued at $18,192,846. Company insiders own 0.37% of the company’s stock.

Cadence Design Systems Profile

Cadence Design Systems, Inc (NASDAQ: CDNS) is a global provider of electronic design automation (EDA) software, hardware and intellectual property used to design and verify advanced semiconductor chips, systems-on-chip (SoCs), printed circuit boards (PCBs) and packaging. Headquartered in San Jose, California and founded in 1988, Cadence serves semiconductor companies, original equipment manufacturers and system designers across the globe, helping customers accelerate design cycles and manage the complexity of modern integrated systems.

The company’s offerings span software tools for digital, custom/analog and mixed-signal design, verification and signoff, as well as solutions for system-level modeling, thermal and signal integrity analysis, and PCB and package design.